India was placed 130th in World Bank&#39;s &#39;Doing Business 2017&#39; report, while Pakistan was ranked 144th.

The annual report scrutinises the feasibility of conducting businesses around.&nbsp;

Nepal and Bhutan fare better than both India and Pakistan.&nbsp;

In South Asia, Bhutan tops the list with a ranking of 73, followed by Nepal at 107 and&nbsp;Sri Lanka at 110.&nbsp;Afghanistan was placed at 183rd spot.&nbsp;(Source: Doing Business)

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NOW AVAILABLE: 2017 Doing Business Report. Ease of <a href="https://twitter.com/hashtag/DoingBiz?src=hash">#DoingBiz</a> measurement in 190 economies: <a href="https://t.co/5YQtP5H61N">https://t.co/5YQtP5H61N</a> <a href="https://t.co/mEMIdEL6Pi">pic.twitter.com/mEMIdEL6Pi</a>
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Around 190 countries have been based&nbsp;on ten parameters:&nbsp;starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

In the latest report, New Zealand tops the chart, with Singapore coming second. Denmark, Hong Kong, South Korea, Norway, the UK, the US and&nbsp;Sweden come next.&nbsp;

Countries which have shown vast improvement include Brunei Darussalam, Kazakhstan, Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan, United Arab Emirates and Bahrain.

&quot;What we have seen is a remarkable effort on the part of the government to implement business reforms. It looks like we are going to have to wait for another year or so. But the direction of change is fundamentally a very significant one,&quot; Augusto Lopez-Claros, Global Indicators Group Director told PTI in an interview.

In the latest report, India improved its place by one spot from its last year&#39;s ranking.&nbsp;

The Indian government is trying to improve the conditions for carrying out business in the country. It was disappointed that the report did not consider 12 important reforms started by them.&nbsp;

(WION with inputs from PTI)

India was placed 130th and Pakistan 144th in World Bank's ease of doing business report

India was placed 130th in World Bank's 'Doing Business 2017' report, while Pakistan was ranked 144th. The annual report scrutinises the feasibility of conducting businesses around. Nepal and Bhutan fare better than both India and Pakistan. In South Asia, Bhutan tops the list with a ranking of 73, followed by Nepal at 107 and Sri Lanka at 110. Afghanistan was placed at 183rd spot. (Source: Doing Business) NOW AVAILABLE: 2017 Doing Business Report. Ease of #DoingBiz measurement in 190 economies: https://t.co/5YQtP5H61N pic.twitter.com/mEMIdEL6Pi — World Bank (@WorldBank) October 25, 2016 × Around 190 countries have been based on ten parameters: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. In the latest report, New Zealand tops the chart, with Singapore coming second. Denmark, Hong Kong, South Korea, Norway, the UK, the US and Sweden come next. Countries which have shown vast improvement include Brunei Darussalam, Kazakhstan, Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan, United Arab Emirates and Bahrain. "What we have seen is a remarkable effort on the part of the government to implement business reforms. It looks like we are going to have to wait for another year or so. But the direction of change is fundamentally a very significant one," Augusto Lopez-Claros, Global Indicators Group Director told PTI in an interview. In the latest report, India improved its place by one spot from its last year's ranking. The Indian government is trying to improve the conditions for carrying out business in the country. It was disappointed that the report did not consider 12 important reforms started by them. (WION with inputs from PTI)

Easier to do business in Nepal and Bhutan than in India: World Bank

A US&nbsp;judge on Tuesday approved one of the biggest corporate settlements on record, Volkswagen AG&#39;s&nbsp;$14.7 billion deal arising from its diesel emissions cheating scandal, and the German automaker said it would begin buying back polluting cars in mid-November.

US&nbsp;District Judge Charles Breyer in San Francisco signed off on VW&#39;s settlement with federal and California regulators and the owners of the 475,000 polluting diesel vehicles in a pivotal moment for the world&#39;s No. 2 automaker as it tries to move past a scandal that has engulfed it for more than a year.

VW admitted in September 2015 to installing secret software in its diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing than they really were. In reality, the vehicles emitted up to 40 times the legally allowable pollution levels.

Volkswagen CEO Matthias Mueller told reporters in Berlin that Breyer&#39;s approval was &quot;an important milestone for us on the way towards clearing up the problem that we caused some time ago.&quot; Hinrich Woebcken, president and CEO of Volkswagen Group of America, pledged to carry out the terms &quot;as seamlessly as possible.&quot;

Breyer turned away objections from car owners who thought the settlement did not provide enough money, saying it &quot;adequately and fairly compensates&quot; them. Owners will get the pre-scandal &quot;trade in&quot; value of the vehicle and $5,100 to $10,000 in additional compensation.

&quot;Given the risks of prolonged litigation, the immediate settlement of this matter is far preferable,&quot; Breyer wrote.

Volkswagen agreed to spend up to $10.033 billion on the buybacks and owner compensation and $4.7 billion on programs to offset excess emissions and boost clean-vehicle projects.

The settlement was reached with the US&nbsp;Justice Department, Federal Trade Commission, the state of California and vehicle owners who had filed a class action lawsuit against VW. Volkswagen has admitted to misleading regulators and still faces an ongoing criminal investigation.

It represented the largest civil settlement worldwide ever reached with an automaker accused of misconduct.

While huge, the approved deal was still smaller than the $246 billion settlement reached by cigarette makers with 46 US states in 1998 and the $53 billion by BP to address costs and penalties arising from the 2010 Gulf of Mexico oil spill.

In total, Volkswagen has agreed to date to spend up to $16.5 billion in connection with the scandal, including payments to dealers, states and attorneys for owners. The scandal rattled VW&#39;s global business, harmed its reputation and prompted the ouster of its CEO.

The settlement covers 2.0-liter polluting diesel Beetle, Golf, Jetta, Passat and Audi A3 cars from the 2009 through 2015 model years. Up to 490,000 people will take part in the settlement because some vehicles had multiple owners.

Volkswagen spokeswoman Jeannine Ginivan said the automaker expects to begin buying back vehicles in mid-November. VW has hired 900 people, including one to be stationed at each dealership, to handle buybacks.

More costs for automaker

VW still faces billions more in costs to address 85,000 polluting 3.0-liter vehicles and Justice Department fines for violating clean air laws. It also faces lawsuits from at least 16 US&nbsp;states for additional claims that could hike the company&#39;s overall costs.

Last month, a Volkswagen engineer pleaded guilty in Detroit to helping the company evade US&nbsp;emission standards. His lawyer said he would cooperate with federal authorities in their criminal probe.

Kathryn Phillips, California director for the Sierra Club environmental group, said Volkswagen broke the law and that &quot;Judge Breyer is making them pay the price. Volkswagen chose to poison our families with dangerous pollution just to pad its pocketbook.&quot;

&quot;Today is a landmark day, when this innovative settlement can be put into action, investing billions of dollars into public health protections to remedy these serious violations,&quot; added Cynthia Giles, US&nbsp;Environmental Protection Agency assistant administrator.

VW will provide $2 billion over 10 years to fund programs to promote electric vehicle charging infrastructure, development of zero-emission ride-sharing fleets and other efforts to boost sales of cars that do not burn petroleum.

Volkswagen has been in intensive talks over how much compensation it may offer owners of the larger 3.0-liter diesel Porsche, Audi and Volkswagen vehicles that emit up to nine times legally allowable emissions and whether it will offer buybacks for some of the polluting SUVs. No final agreement has been reached. Volkswagen faces a Nov. 3 court hearing to update the court on those vehicles&#39; status.

Volkswagen agreed to make up to $1.21 billion in payments to 652 US&nbsp;VW brand dealers and $600 million to 44 U.S. states to address some state claims.

Nearly 340,000 owners have registered to take part in the settlement. About 3,500 owners have opted out. Volkswagen must fix or buy back 85 per cent of the 475,000 vehicles under the agreement by June 2019 or face additional costs.

Owners have until September 2018 to submit paperwork to sell back vehicles. VW will have to destroy repurchased vehicles unless it wins approval for fixes.

(Reuters)

The automaker said it will buy back polluting diesel cars, which emit up to 40 times the allowable pollution levels, from mid-November

A US judge on Tuesday approved one of the biggest corporate settlements on record, Volkswagen AG's $14.7 billion deal arising from its diesel emissions cheating scandal, and the German automaker said it would begin buying back polluting cars in mid-November. US District Judge Charles Breyer in San Francisco signed off on VW's settlement with federal and California regulators and the owners of the 475,000 polluting diesel vehicles in a pivotal moment for the world's No. 2 automaker as it tries to move past a scandal that has engulfed it for more than a year. VW admitted in September 2015 to installing secret software in its diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing than they really were. In reality, the vehicles emitted up to 40 times the legally allowable pollution levels. Volkswagen CEO Matthias Mueller told reporters in Berlin that Breyer's approval was "an important milestone for us on the way towards clearing up the problem that we caused some time ago." Hinrich Woebcken, president and CEO of Volkswagen Group of America, pledged to carry out the terms "as seamlessly as possible." Breyer turned away objections from car owners who thought the settlement did not provide enough money, saying it "adequately and fairly compensates" them. Owners will get the pre-scandal "trade in" value of the vehicle and $5,100 to $10,000 in additional compensation. "Given the risks of prolonged litigation, the immediate settlement of this matter is far preferable," Breyer wrote. Volkswagen agreed to spend up to $10.033 billion on the buybacks and owner compensation and $4.7 billion on programs to offset excess emissions and boost clean-vehicle projects. The settlement was reached with the US Justice Department, Federal Trade Commission, the state of California and vehicle owners who had filed a class action lawsuit against VW. Volkswagen has admitted to misleading regulators and still faces an ongoing criminal investigation. It represented the largest civil settlement worldwide ever reached with an automaker accused of misconduct. While huge, the approved deal was still smaller than the $246 billion settlement reached by cigarette makers with 46 US states in 1998 and the $53 billion by BP to address costs and penalties arising from the 2010 Gulf of Mexico oil spill. In total, Volkswagen has agreed to date to spend up to $16.5 billion in connection with the scandal, including payments to dealers, states and attorneys for owners. The scandal rattled VW's global business, harmed its reputation and prompted the ouster of its CEO. The settlement covers 2.0-liter polluting diesel Beetle, Golf, Jetta, Passat and Audi A3 cars from the 2009 through 2015 model years. Up to 490,000 people will take part in the settlement because some vehicles had multiple owners. Volkswagen spokeswoman Jeannine Ginivan said the automaker expects to begin buying back vehicles in mid-November. VW has hired 900 people, including one to be stationed at each dealership, to handle buybacks. More costs for automaker VW still faces billions more in costs to address 85,000 polluting 3.0-liter vehicles and Justice Department fines for violating clean air laws. It also faces lawsuits from at least 16 US states for additional claims that could hike the company's overall costs. Last month, a Volkswagen engineer pleaded guilty in Detroit to helping the company evade US emission standards. His lawyer said he would cooperate with federal authorities in their criminal probe. Kathryn Phillips, California director for the Sierra Club environmental group, said Volkswagen broke the law and that "Judge Breyer is making them pay the price. Volkswagen chose to poison our families with dangerous pollution just to pad its pocketbook." "Today is a landmark day, when this innovative settlement can be put into action, investing billions of dollars into public health protections to remedy these serious violations," added Cynthia Giles, US Environmental Protection Agency assistant administrator. VW will provide $2 billion over 10 years to fund programs to promote electric vehicle charging infrastructure, development of zero-emission ride-sharing fleets and other efforts to boost sales of cars that do not burn petroleum. Volkswagen has been in intensive talks over how much compensation it may offer owners of the larger 3.0-liter diesel Porsche, Audi and Volkswagen vehicles that emit up to nine times legally allowable emissions and whether it will offer buybacks for some of the polluting SUVs. No final agreement has been reached. Volkswagen faces a Nov. 3 court hearing to update the court on those vehicles' status. Volkswagen agreed to make up to $1.21 billion in payments to 652 US VW brand dealers and $600 million to 44 U.S. states to address some state claims. Nearly 340,000 owners have registered to take part in the settlement. About 3,500 owners have opted out. Volkswagen must fix or buy back 85 per cent of the 475,000 vehicles under the agreement by June 2019 or face additional costs. Owners have until September 2018 to submit paperwork to sell back vehicles. VW will have to destroy repurchased vehicles unless it wins approval for fixes. (Reuters)

US judge approves $14.7 billion deal in Volkswagen diesel scandal

Japanese automaker Honda on Tuesday launched a hybrid variation of the Honda Accord in India for INR&nbsp;37 lakh (USD&nbsp;55,000).

&nbsp;

Indian news organisation&nbsp;CNN News18 reported the biggest difference in the new sedan is its engine.&nbsp;

&nbsp;

It is powered by a 2.0-litre Atkinson Cycle DOHC i-VTEC engine that uses Honda&rsquo;s &lsquo;Earth Dream Technology&rsquo;, the news organisation&nbsp;reported.

&nbsp;

This is the second hybrid from Honda in India. In 2008, it had launched the Civic hybrid but discontinued its sales within a year due to weak response.&nbsp;

&nbsp;

&quot;Hybrid is the technology for the future. In India, we are taking the current environmental concerns as our top priority. The Accord Hybrid is the most fuel-efficient hybrid model in its segment,&quot; Yoichiro Ueno, president and CEO at Honda Cars India was quoted as saying by Indian daily,&nbsp;Business Standard.&nbsp;

&nbsp;

(WION)

This is the second hybrid from Honda in India. In 2008, the Japanese MNC launched Civic hybrid but discontinued its sales within a year

Japanese automaker Honda on Tuesday launched a hybrid variation of the Honda Accord in India for INR 37 lakh (USD 55,000). Indian news organisation CNN News18 reported the biggest difference in the new sedan is its engine. It is powered by a 2.0-litre Atkinson Cycle DOHC i-VTEC engine that uses Honda’s ‘Earth Dream Technology’, the news organisation reported. This is the second hybrid from Honda in India. In 2008, it had launched the Civic hybrid but discontinued its sales within a year due to weak response. "Hybrid is the technology for the future. In India, we are taking the current environmental concerns as our top priority. The Accord Hybrid is the most fuel-efficient hybrid model in its segment," Yoichiro Ueno, president and CEO at Honda Cars India was quoted as saying by Indian daily, Business Standard. (WION)

Honda Accord hybrid launched in India at INR 37 lakh

Indian business conglomerate &nbsp;Shapoorji Pallonji group said on Tuesday that it has not yet decided on taking legal recourse after Cyrus Mistry was replaced by Ratan Tata as the Chairman of Tata Group.

The group is studying the &#39;circumstances&#39;, Press Trust of India reported.

Shapoorji, the single largest shareholder of Tata Sons, said it will make a statement when it becomes necessary. It holds 18.4 per cent stake in Tata Sons.

&quot;Neither the SP Group nor Mr Cyrus Mistry have made any statement yet. While the circumstances are being studied, there is no basis to media speculation about litigation at this stage. As and when a public statement becomes necessary, it would be made,&quot; the construction group said in an emailed statement.

Tata Sons on Monday removed Cyrus Mistry as its chairman, four years after he took over the conglomerate. Ratan Tata will be the interim chairman of Tata Sons for four months till a replacement is found.

No reasons have been given yet for the change of leadership. Mistry had replaced Tata on December 29, 2012 to head the over USD 100 billion company.

(With inputs from PTI)

Shapoorji, the largest single shareholder of Tata Sons, said it will make a statement when it becomes necessary

Indian business conglomerate Shapoorji Pallonji group said on Tuesday that it has not yet decided on taking legal recourse after Cyrus Mistry was replaced by Ratan Tata as the Chairman of Tata Group. The group is studying the 'circumstances', Press Trust of India reported. Shapoorji, the single largest shareholder of Tata Sons, said it will make a statement when it becomes necessary. It holds 18.4 per cent stake in Tata Sons. "Neither the SP Group nor Mr Cyrus Mistry have made any statement yet. While the circumstances are being studied, there is no basis to media speculation about litigation at this stage. As and when a public statement becomes necessary, it would be made," the construction group said in an emailed statement. Tata Sons on Monday removed Cyrus Mistry as its chairman, four years after he took over the conglomerate. Ratan Tata will be the interim chairman of Tata Sons for four months till a replacement is found. No reasons have been given yet for the change of leadership. Mistry had replaced Tata on December 29, 2012 to head the over USD 100 billion company. (With inputs from PTI)

No decision yet on legal recourse to Mistry ouster: Shapoorji group

Twitter is planning to trim 8 per cent of its workforce,&nbsp;Bloomberg reported, citing&nbsp;people familiar with the matter.&nbsp;

That means at least 300 of its employees are set to lose their jobs.

Twitter, however, is yet to come out with an official statement.

The company had laid off 336 people last year when Jack Dorsey, who had been serving as the interim chief executive, took over as the permanent CEO of the company.&nbsp;

Till June, the company had 3,860 employees on its payroll.

The company had issued a warning in September when it had said that it will pare down its workforce and halt its engineering work at one of its development centres in Bengaluru, India&#39;s technological hub.&nbsp;

However, the number of jobs affected could change, Bloomberg said. The job cuts would be announced&nbsp;before the social media company reports its third-quarter earnings&nbsp;on Thursday.&nbsp;

The social media giant has had a tough time finding a buyer as most prospective suitors have baulked at acquiring a company with a market cap of $12.76 billion and losses running at $400 million every year.

Salesforce.com, an American cloud computing company, had shown interest in buying Twitter last month but&nbsp;declined to make a bid citing its losses.&nbsp;

(WION with inputs from Reuters)

Twitter had earlier said it would lay off some employees and halt engineering work at one of its development centres in India's Bengaluru

Twitter is planning to trim 8 per cent of its workforce, Bloomberg reported, citing people familiar with the matter. That means at least 300 of its employees are set to lose their jobs. Twitter, however, is yet to come out with an official statement. The company had laid off 336 people last year when Jack Dorsey, who had been serving as the interim chief executive, took over as the permanent CEO of the company. Till June, the company had 3,860 employees on its payroll. The company had issued a warning in September when it had said that it will pare down its workforce and halt its engineering work at one of its development centres in Bengaluru, India's technological hub. However, the number of jobs affected could change, Bloomberg said. The job cuts would be announced before the social media company reports its third-quarter earnings on Thursday. The social media giant has had a tough time finding a buyer as most prospective suitors have baulked at acquiring a company with a market cap of $12.76 billion and losses running at $400 million every year. Salesforce.com, an American cloud computing company, had shown interest in buying Twitter last month but declined to make a bid citing its losses. (WION with inputs from Reuters)

Twitter to lay off over 300 people: Bloomberg

India&rsquo;s cotton exports in the 2016/17 year that started on October 1 are likely to fall as its neighbour and top buyer Pakistan is set to trim purchases, industry and government officials have said, news agency Reuters reported.

&nbsp;

Pakistan is likely to import 1 million to 1.5 million bales in 2016/17, down sharply from 2.7 million bales a year earlier, India&#39;s textile commissioner Kavita Gupta told reporters on Monday.

&nbsp;

This would mean a 28 per cent fall in exports as compared to last year.&nbsp;

&nbsp;

Gupta said the cut in imports by Pakistan are due to the&nbsp;rising hostilities and improvement in its own production. The industry officials said it is due to the&nbsp;rising tensions between the two South Asian countries.

&nbsp;

&quot;Pakistan still needs to import, but Pakistani buyers are turning to Brazil and the US,&quot; said Pradeep Jain, a ginner based in Jalgaon in the western Indian state of Maharashtra.

&nbsp;

Pakistan, the world&#39;s third-largest cotton consumer, usually starts importing from September, but exporters said the number of inquiries had slowed to a trickle in the last few weeks.

&nbsp;

Tensions between the two neighbours have been on the rise in the past few months. On September 18, an Indian Army base in Uri was attacked by Pakistani militants and as many as 19 Indian soldiers were killed in the attack.

&nbsp;

About 10 days after the attack, Indian Army said it retaliated by carrying out &lsquo;surgical strikes&rsquo; in Pakistan-administered Kashmir, a claim that was denied by Pakistan.&nbsp;

&nbsp;

(WION with inputs from Reuters)

Pakistan is likely to import 1 million to 1.5 million bales in the 2016/17 year, down sharply from 2.7 million bales a year earlier

India’s cotton exports in the 2016/17 year that started on October 1 are likely to fall as its neighbour and top buyer Pakistan is set to trim purchases, industry and government officials have said, news agency Reuters reported. Pakistan is likely to import 1 million to 1.5 million bales in 2016/17, down sharply from 2.7 million bales a year earlier, India's textile commissioner Kavita Gupta told reporters on Monday. This would mean a 28 per cent fall in exports as compared to last year. Gupta said the cut in imports by Pakistan are due to the rising hostilities and improvement in its own production. The industry officials said it is due to the rising tensions between the two South Asian countries. "Pakistan still needs to import, but Pakistani buyers are turning to Brazil and the US," said Pradeep Jain, a ginner based in Jalgaon in the western Indian state of Maharashtra. Pakistan, the world's third-largest cotton consumer, usually starts importing from September, but exporters said the number of inquiries had slowed to a trickle in the last few weeks. Tensions between the two neighbours have been on the rise in the past few months. On September 18, an Indian Army base in Uri was attacked by Pakistani militants and as many as 19 Indian soldiers were killed in the attack. About 10 days after the attack, Indian Army said it retaliated by carrying out ‘surgical strikes’ in Pakistan-administered Kashmir, a claim that was denied by Pakistan. (WION with inputs from Reuters)

India's cotton exports to slump as Pakistan trims purchases

In the wake of&nbsp;one of the country&#39;s largest-ever cyber security incidents, the Reserve Bank of India (RBI) said it met with senior officials from select banks, the National Payment Corporation of India and card network operators.&nbsp;

&nbsp;

A slew of banks in India are replacing or asking their customers to change security codes of as many as 3.25 million debit cards over&nbsp;fears that the card data may have been stolen, international news agency Reuters reported.&nbsp;

&nbsp;

The meeting was held&nbsp;to review the steps taken by various agencies to contain any adverse fallout, the RBI, adding that the number of cards misused, as per currently available information, was few.

&nbsp;

(WION with inputs from Reuters)&nbsp;

Media reports suggest around 3.2 million debit cards were compromised in of the country's largest-ever cyber security incidents

In the wake of one of the country's largest-ever cyber security incidents, the Reserve Bank of India (RBI) said it met with senior officials from select banks, the National Payment Corporation of India and card network operators. A slew of banks in India are replacing or asking their customers to change security codes of as many as 3.25 million debit cards over fears that the card data may have been stolen, international news agency Reuters reported. The meeting was held to review the steps taken by various agencies to contain any adverse fallout, the RBI, adding that the number of cards misused, as per currently available information, was few. (WION with inputs from Reuters)

India's central bank meets officials after debit card security breach

AT&amp;T Inc&#39;s proposed $85 billion takeover of Time Warner Inc generated skepticism among both Democrats and Republicans on Sunday, making it more likely that regulators will closely scrutinize the effort to create a new telecommunications and media giant.

The biggest deal of the year, announced just over two weeks before the November 8 US&nbsp;election, is a gamble on a victory for Democratic presidential candidate Hillary Clinton and a continuation of the status quo on anti-trust and regulatory enforcement.

The Republican candidate Donald Trump, who is trailing Clinton in the polls, has said he would block the takeover.

The billionaire businessman has railed against the media&#39;s role in what he has described as a &quot;rigged&quot; election and he believes the acquisition of Time Warner, which owns CNN and Warner Bros, Hollywood&#39;s largest film and television studio, would concentrate too much power in one organization.

&quot;AT&amp;T, the original and abusive &#39;Ma Bell&#39; telephone monopoly, is now trying to buy Time Warner and thus the wildly anti-Trump CNN. Donald Trump would never approve such a deal because it concentrates too much power in the hands of the too and powerful few,&quot; Trump economic advisor Peter Navarro said in a statement on Sunday.

Clinton, who has expressed misgivings about other corporate megamergers, has not yet commented on the takeover.

But Senator Bernie Sanders, Clinton&#39;s former rival for the Democratic party&#39;s nomination, said on Twitter that the administration should &quot;kill&quot; the Time Warner takeover because it would mean higher prices and fewer choices for consumers.

Sanders&#39; comments carry weight because Clinton needs Sanders&#39; coalition of young and left-leaning voters to propel her to the presidency.

Clinton spokesman Brian Fallon told reporters on Sunday there were &quot;a number of questions and concerns&quot; about the deal &quot;but there&#39;s still a lot of information that needs to come out before any conclusions should be reached&quot;.

The Senate subcommittee on antitrust will hold a hearing on the acquisition sometime in November, said subcommittee chair Senator Mike Lee, a Republican, and the ranking Democrat, Senator Amy Klobuchar.

Tim Kaine, Clinton&#39;s running mate and a senator from Virginia, said lawmakers and regulators would have to review the deal and &quot;get to the bottom&quot; of questions over whether the merger would decrease competition.

&quot;Less concentration, I think, is generally helpful especially in the media,&quot; Kaine said on NBC&#39;s &quot;Meet the Press&quot;.

The US&nbsp;Justice Department, not the president, has the power to reject such a deal if it violates antitrust laws. AT&amp;T said it is unclear if the Federal Communications Commission will also have jurisdiction to review the deal.

A spokesman for the Justice Department declined to comment.

AT&amp;T has described the deal as a &quot;vertical merger&quot; because there is no overlap between the two companies and hopes that such a tie-up will get the regulatory green light by the end of 2017.

&ldquo;In the modern history of the media and the Internet, the US&nbsp;government has always approved vertical mergers like ours, because they benefit consumers, strengthen competition, and, in our case, encourage innovation and investment,&rdquo; David McAtee, AT&amp;T senior executive vice president and general counsel, said in a statement on Sunday.

The Time Warner takeover mirrors the 2013 $30 billion purchase of NBCUniversal by its rival Comcast, a deal which was cleared after regulators imposed concessions on the cable operator.

Competitors envision &#39;close scrutiny&#39;

The cash and stock deal brings together two very different companies &mdash;&nbsp;one a telecom&nbsp;company that traces its heritage back to Alexander Graham Bell, the other an entertainment company founded in the Hollywood of the 1920s.

But the tie-up, which is designed to boost the content AT&amp;T can stream over its network, raises concerns that AT&amp;T might try to limit distribution of Time Warner material.

Competitors such as NBCUniversal, Twenty-First Century Fox Inc and the Walt Disney Co. could find that their content could be put at a disadvantage, some consumer advocacy groups suggested.

&quot;A transaction of this magnitude obviously warrants very close regulatory scrutiny,&quot; said Zenia Mucha, chief communications officer for Disney.

NBC Universal, which is owned by Comcast Corp and Fox, declined to comment on the merger.

Netflix Chief Content Officer Ted Sarandos, speaking on Saturday at the Institute on Entertainment Law and Business conference at the University of Southern California, said he expected a close examination of the deal by regulators.

Congressional examination

Senators Lee and Klobuchar said their subcommittee would &quot;carefully review&quot; the merger to make sure it does not harm consumers.

Lawmakers may pursue inquiries into the merger and build support for or against it, but it is ultimately up to the Justice Department to approve, block or place conditions on the deal.

Two of the biggest congressional critics of the mega-mergers among media companies and elsewhere in the U.S. economy said late on Saturday that they would take a hard look at this deal.&nbsp;&nbsp;&nbsp;

Senator Richard Blumenthal, who is on the Senate Judiciary Committee, noted the proposed acquisition would combine a wireless company, a pay-TV provider and a studio.&nbsp;&nbsp;

&quot;I will be looking closely at what this merger means for consumers and their pocketbooks and whether it stands up to &lrm;the rigorous review standards set by the Department of Justice&#39;s antitrust division in the last few years,&quot; he said.&nbsp;&nbsp;&nbsp;

Senator Al Franken, who is also on the Judiciary Committee, said that the deal raised &quot;immediate flags&quot;&quot;. &nbsp;

&quot;I&#39;m skeptical of huge media mergers because they can lead to higher costs, fewer choices, and even worse service for consumers,&quot; he said. &quot;And regulators often agree, like when Comcast unsuccessfully tried to buy Time Warner Cable, a deal that I fiercely opposed&quot;.

(Reuters)

&nbsp;

Demands for an investigation comes amid concerns about the merger decreasing competition and jacking up subscription prices

AT&T Inc's proposed $85 billion takeover of Time Warner Inc generated skepticism among both Democrats and Republicans on Sunday, making it more likely that regulators will closely scrutinize the effort to create a new telecommunications and media giant. The biggest deal of the year, announced just over two weeks before the November 8 US election, is a gamble on a victory for Democratic presidential candidate Hillary Clinton and a continuation of the status quo on anti-trust and regulatory enforcement. The Republican candidate Donald Trump, who is trailing Clinton in the polls, has said he would block the takeover. The billionaire businessman has railed against the media's role in what he has described as a "rigged" election and he believes the acquisition of Time Warner, which owns CNN and Warner Bros, Hollywood's largest film and television studio, would concentrate too much power in one organization. "AT&T, the original and abusive 'Ma Bell' telephone monopoly, is now trying to buy Time Warner and thus the wildly anti-Trump CNN. Donald Trump would never approve such a deal because it concentrates too much power in the hands of the too and powerful few," Trump economic advisor Peter Navarro said in a statement on Sunday. Clinton, who has expressed misgivings about other corporate megamergers, has not yet commented on the takeover. But Senator Bernie Sanders, Clinton's former rival for the Democratic party's nomination, said on Twitter that the administration should "kill" the Time Warner takeover because it would mean higher prices and fewer choices for consumers. Sanders' comments carry weight because Clinton needs Sanders' coalition of young and left-leaning voters to propel her to the presidency. Clinton spokesman Brian Fallon told reporters on Sunday there were "a number of questions and concerns" about the deal "but there's still a lot of information that needs to come out before any conclusions should be reached". The Senate subcommittee on antitrust will hold a hearing on the acquisition sometime in November, said subcommittee chair Senator Mike Lee, a Republican, and the ranking Democrat, Senator Amy Klobuchar. Tim Kaine, Clinton's running mate and a senator from Virginia, said lawmakers and regulators would have to review the deal and "get to the bottom" of questions over whether the merger would decrease competition. "Less concentration, I think, is generally helpful especially in the media," Kaine said on NBC's "Meet the Press". The US Justice Department, not the president, has the power to reject such a deal if it violates antitrust laws. AT&T said it is unclear if the Federal Communications Commission will also have jurisdiction to review the deal. A spokesman for the Justice Department declined to comment. AT&T has described the deal as a "vertical merger" because there is no overlap between the two companies and hopes that such a tie-up will get the regulatory green light by the end of 2017. “In the modern history of the media and the Internet, the US government has always approved vertical mergers like ours, because they benefit consumers, strengthen competition, and, in our case, encourage innovation and investment,” David McAtee, AT&T senior executive vice president and general counsel, said in a statement on Sunday. The Time Warner takeover mirrors the 2013 $30 billion purchase of NBCUniversal by its rival Comcast, a deal which was cleared after regulators imposed concessions on the cable operator. Competitors envision 'close scrutiny' The cash and stock deal brings together two very different companies — one a telecom company that traces its heritage back to Alexander Graham Bell, the other an entertainment company founded in the Hollywood of the 1920s. But the tie-up, which is designed to boost the content AT&T can stream over its network, raises concerns that AT&T might try to limit distribution of Time Warner material. Competitors such as NBCUniversal, Twenty-First Century Fox Inc and the Walt Disney Co. could find that their content could be put at a disadvantage, some consumer advocacy groups suggested. "A transaction of this magnitude obviously warrants very close regulatory scrutiny," said Zenia Mucha, chief communications officer for Disney. NBC Universal, which is owned by Comcast Corp and Fox, declined to comment on the merger. Netflix Chief Content Officer Ted Sarandos, speaking on Saturday at the Institute on Entertainment Law and Business conference at the University of Southern California, said he expected a close examination of the deal by regulators. Congressional examination Senators Lee and Klobuchar said their subcommittee would "carefully review" the merger to make sure it does not harm consumers. Lawmakers may pursue inquiries into the merger and build support for or against it, but it is ultimately up to the Justice Department to approve, block or place conditions on the deal. Two of the biggest congressional critics of the mega-mergers among media companies and elsewhere in the U.S. economy said late on Saturday that they would take a hard look at this deal. Senator Richard Blumenthal, who is on the Senate Judiciary Committee, noted the proposed acquisition would combine a wireless company, a pay-TV provider and a studio. "I will be looking closely at what this merger means for consumers and their pocketbooks and whether it stands up to ‎the rigorous review standards set by the Department of Justice's antitrust division in the last few years," he said. Senator Al Franken, who is also on the Judiciary Committee, said that the deal raised "immediate flags"". "I'm skeptical of huge media mergers because they can lead to higher costs, fewer choices, and even worse service for consumers," he said. "And regulators often agree, like when Comcast unsuccessfully tried to buy Time Warner Cable, a deal that I fiercely opposed". (Reuters)

AT&T-Time Warner deal sparks calls for scrutiny

Saudi Oil Minister Khalid al-Falih said on Monday that the present cycle of falling crude prices is close to an end amid improving market fundamentals.

Oil prices are currently around $50 per barrel after hitting the lowest in a decade in January, reaching $30 and down from a peak of more than $100 in mid-2014.

&quot;The current down cycle is nearing an end,&quot; Falih told a joint press conference with his Russian counterpart Alexander Novak on Sunday after a Gulf ministerial meeting in Riyadh, news agency AFP&nbsp;reported.

&quot;Market fundamentals, in terms of supply and demand, have begun to improve,&quot; Falih said, adding: &quot;We are optimistic that oil prices will continue to improve in the future.&quot;

Qatar&#39;s energy minister, Mohammed al-Sada, whose country holds the rotating presidency of the OPEC oil exporting cartel, also assured that &nbsp;the &quot;difficult phase is over&quot;.

&quot;Although the market is heading to being balanced, it needs our joint effort, and we all agreed that we need to take measures to bring back this balance,&quot; he said, AFP reported.

Novak said ways to &quot;develop the best mechanism to solve the issue of stabilisation&quot; were discussed in the meeting.

&quot;We have reached an unprecedented level in our relations and cooperation&quot; with Saudi Arabia, he told reporters, adding that he agreed with Falih &quot;to continue to work and remain in continuous contact to achieve... Concrete mechanisms&quot;.

Meanwhile, OPEC has called a meeting with Russia and important non-members later this month as the cartel and Moscow look towards tightening cooperation to boost the historically low crude oil &nbsp;prices.

The cartel and Russia will also meet on Tuesday, ahead of the OPEC technical meeting in Vienna on October 28 to 29.

Last month at a meeting in Algiers, the OPEC agreed to its first production cut in eight years.

President Nicolas Maduro of OPEC member Venezuela, a country deep in economic and political crisis aggravated by falling oil prices, was in Riyadh on Sunday for talks.

His visit comes a day after calling in Iran for increased cooperation between oil-rich countries in a bid to stabilise prices.

&nbsp;

 
(WION with inputs from AFP) 
&nbsp;

Qatar's energy minister Mohammed al-Sada has also said the 'difficult phase is over'

Saudi Oil Minister Khalid al-Falih said on Monday that the present cycle of falling crude prices is close to an end amid improving market fundamentals. Oil prices are currently around $50 per barrel after hitting the lowest in a decade in January, reaching $30 and down from a peak of more than $100 in mid-2014. "The current down cycle is nearing an end," Falih told a joint press conference with his Russian counterpart Alexander Novak on Sunday after a Gulf ministerial meeting in Riyadh, news agency AFP reported. "Market fundamentals, in terms of supply and demand, have begun to improve," Falih said, adding: "We are optimistic that oil prices will continue to improve in the future." Qatar's energy minister, Mohammed al-Sada, whose country holds the rotating presidency of the OPEC oil exporting cartel, also assured that the "difficult phase is over". "Although the market is heading to being balanced, it needs our joint effort, and we all agreed that we need to take measures to bring back this balance," he said, AFP reported. Novak said ways to "develop the best mechanism to solve the issue of stabilisation" were discussed in the meeting. "We have reached an unprecedented level in our relations and cooperation" with Saudi Arabia, he told reporters, adding that he agreed with Falih "to continue to work and remain in continuous contact to achieve... Concrete mechanisms". Meanwhile, OPEC has called a meeting with Russia and important non-members later this month as the cartel and Moscow look towards tightening cooperation to boost the historically low crude oil prices. The cartel and Russia will also meet on Tuesday, ahead of the OPEC technical meeting in Vienna on October 28 to 29. Last month at a meeting in Algiers, the OPEC agreed to its first production cut in eight years. President Nicolas Maduro of OPEC member Venezuela, a country deep in economic and political crisis aggravated by falling oil prices, was in Riyadh on Sunday for talks. His visit comes a day after calling in Iran for increased cooperation between oil-rich countries in a bid to stabilise prices. (WION with inputs from AFP)

Oil price down cycle 'nearing end', says  Saudi oil minister

The death toll due to a massive fire in a hospital in India&#39;s eastern state of Orissa rose to 24 on Saturday.

The post-mortem reports of the 19 dead said they died of suffocation and not of burns in the incident on Monday evening.

The death toll in the Sum Hospital fire tragedy increased to 24 with the death of Kartikeswar Das, a resident of GGP Colony, said Manoj Kumar Mohanty, additional district magistrate of Bhubaneswar.

Das was moved from Sum hospital to a private facility on the night of the incident. He was referred to a third hospital when his condition worsened, where he died.

The post-mortem reports which reached the Commissionerate of Police revealed that &quot;there was no burn case&quot;, Press Trust of India reported.

&quot;All the 19 people died due to suffocation due to smoke caused by the fire,&quot; said commissioner of police YB Khurania.

On Monday, at least 19 people were killed and several injured after a fire broke out at the ICU and the dialysis unit of the Institute of Medical Sciences and SUM Hospital, situated in the capital city of Odisha, Bhubaneswar. Within minutes, the smoke engulfed the entire ICU and dialysis unit making evacuation of patients difficult.

The post-mortem reports of the other bodies are yet to come.

A preliminary investigation had revealed that the fire was caused due to a short circuit in the Intensive Care Unit (ICU), which later spread to rest of the hospital.&nbsp;

The police interrogated the owner of the hospital, Manoj Ranjan Nayak, and received &#39;vital&#39; information about the violation of the institution&#39;s fire safety norms, Khurania said. Nayak&#39;s two-day police remand ends on Saturday night.

&quot;We will interrogate all those concerned regarding the safety measures of the hospital,&quot; Khurania said, adding that Nayak&#39;s wife Saswati Das, also a trustee member of the hospital, was still at large, PTI reported.

Orissa&#39;s health minister Pradip Kumar Amat said he would &#39;try to do justice&#39; and take action against the culprits of the tragedy.

India&#39;s health minister J P Nadda visited the fire-ravaged hospital and the injured patients undergoing treatment on Wednesday.

&ldquo;It is really very saddening, shocking and painful also. I have found some lapses in safety issues there which need to be addressed. We see some protocol breach. Inquiry report will come soon. State government should see punitive action taken,&rdquo; said Nadda, adding, &ldquo;A fresh advisory will be given to all the states so that such incidents do not take place in future.&rdquo;

On the same day, the National Human Rights Commission (NHRC) took cognisance of the&nbsp;matter and has sought a report from the Odisha government within six weeks.

On Tuesday as many as four officials of the hospital were arrested on charges of criminal negligence, including culpable homicide, culpable homicide not amounting to murder, and negligence with regard to fire safety.

The arrested include the hospital&rsquo;s medical superintendent Pusparaj Samantasinghar, ex-executive engineer Amulya Kumar Sahu, fire safety officer Santosh Das and retired junior engineer Malay Kumar Sahu.

A similar incident in yet another eastern Indian state of West Bengal had occurred in 2011, where a fire in the AMRI hospital claimed as many as 90 lives.

(WION with inputs from PTI)

Lagarde congratulated Sharif 'on successfully completing the IMF programme which has helped Pakistan restore its macroeconomic stability'

The death toll due to a massive fire in a hospital in India's eastern state of Orissa rose to 24 on Saturday. The post-mortem reports of the 19 dead said they died of suffocation and not of burns in the incident on Monday evening. The death toll in the Sum Hospital fire tragedy increased to 24 with the death of Kartikeswar Das, a resident of GGP Colony, said Manoj Kumar Mohanty, additional district magistrate of Bhubaneswar. Das was moved from Sum hospital to a private facility on the night of the incident. He was referred to a third hospital when his condition worsened, where he died. The post-mortem reports which reached the Commissionerate of Police revealed that "there was no burn case", Press Trust of India reported. "All the 19 people died due to suffocation due to smoke caused by the fire," said commissioner of police YB Khurania. On Monday, at least 19 people were killed and several injured after a fire broke out at the ICU and the dialysis unit of the Institute of Medical Sciences and SUM Hospital, situated in the capital city of Odisha, Bhubaneswar. Within minutes, the smoke engulfed the entire ICU and dialysis unit making evacuation of patients difficult. The post-mortem reports of the other bodies are yet to come. A preliminary investigation had revealed that the fire was caused due to a short circuit in the Intensive Care Unit (ICU), which later spread to rest of the hospital. The police interrogated the owner of the hospital, Manoj Ranjan Nayak, and received 'vital' information about the violation of the institution's fire safety norms, Khurania said. Nayak's two-day police remand ends on Saturday night. "We will interrogate all those concerned regarding the safety measures of the hospital," Khurania said, adding that Nayak's wife Saswati Das, also a trustee member of the hospital, was still at large, PTI reported. Orissa's health minister Pradip Kumar Amat said he would 'try to do justice' and take action against the culprits of the tragedy. India's health minister J P Nadda visited the fire-ravaged hospital and the injured patients undergoing treatment on Wednesday. “It is really very saddening, shocking and painful also. I have found some lapses in safety issues there which need to be addressed. We see some protocol breach. Inquiry report will come soon. State government should see punitive action taken,” said Nadda, adding, “A fresh advisory will be given to all the states so that such incidents do not take place in future.” On the same day, the National Human Rights Commission (NHRC) took cognisance of the matter and has sought a report from the Odisha government within six weeks. On Tuesday as many as four officials of the hospital were arrested on charges of criminal negligence, including culpable homicide, culpable homicide not amounting to murder, and negligence with regard to fire safety. The arrested include the hospital’s medical superintendent Pusparaj Samantasinghar, ex-executive engineer Amulya Kumar Sahu, fire safety officer Santosh Das and retired junior engineer Malay Kumar Sahu. A similar incident in yet another eastern Indian state of West Bengal had occurred in 2011, where a fire in the AMRI hospital claimed as many as 90 lives. (WION with inputs from PTI)

Pakistan out of economic crisis: IMF chief Christine Lagarde

India&#39;s third-largest telecoms operator, Idea Cellular Ltd, on Monday posted an 88 per cent slump in second-quarter profit, as revenue fell on cheaper voice and data plans rolled out to counter new competition.

Idea posted a consolidated net profit of 914.6 million Indian Rupees ($13.68 million) in the quarter ended September 30, compared with 7.62 billion Rupees a year ago, the company said in a statement.

The profit missed an average estimate of 1.55 billion Rupees from 13 analysts polled by Thomson Reuters.

Revenue dropped 7 per cent to 92.99 billion Rupees.

(Reuters)

Idea posted an 88% slump in second-quarter profit, as revenue fell on cheaper voice and data plans rolled out to counter new competition

India's third-largest telecoms operator, Idea Cellular Ltd, on Monday posted an 88 per cent slump in second-quarter profit, as revenue fell on cheaper voice and data plans rolled out to counter new competition. Idea posted a consolidated net profit of 914.6 million Indian Rupees ($13.68 million) in the quarter ended September 30, compared with 7.62 billion Rupees a year ago, the company said in a statement. The profit missed an average estimate of 1.55 billion Rupees from 13 analysts polled by Thomson Reuters. Revenue dropped 7 per cent to 92.99 billion Rupees. (Reuters)

India: Idea Cellular Q2 profit slumps amid fierce competition

Iconic British luxury car brand Aston Martin is eyeing good growth in the Indian market and plans to launch a new product every nine months, a top company official said.

Aston Martin has been selling cars under the brands Vantage, Rapide and Vanquish in India, as well as the recently launched DB11.

&quot;The market has been fairly stagnant due to harsher economic conditions. However, with the new products coming, we expect real growth in India,&quot; Aston Martin president, Middle East and North Africa, Neil Slade told PTI.

The company recently launched its latest luxury brand DB11, successor to the DB9 launched in 2003.

&quot;The DB11 showcases a fresh and distinctive design language, pioneering aerodynamics, and is powered by a potent in-house designed 5.2 litre turbocharged V12 engine.&quot;

&quot;The Aston Martin DB11 is a fine balance of beauty and performance. We at Aston Martin are proud to showcase this powerhouse to our discerning clientele in India,&quot; he said.

To a query on the sales target for the next two years, he declined to divulge any figures, but said that &quot;with the new products we expect good growth&quot;.

&quot;We will be launching our new products every nine months from now in India,&quot; he said.

The company has been selling between 3,500 - 4,000 units over the last few years. &quot;We expect our stability (in sales) to continue,&quot; he said.

&quot;Our second Century plan is an exciting time for Aston Martin, starting with a complete line up to be released in the coming five years,&quot; he said.

Asked about the growth of premium luxury car segment in India over the last two years, he said, &quot;The market has been fairly stagnant due to harsher economic conditions.&quot;

On import duty for cars not manufactured in India, he said it was punitive and had an impact on sales.

&quot;This is punitive. Of course, it impacts sales potential,&quot; he said.

On the launch of DB11 in the market, which already has stiff competition with the presence of Ferrari and Lamborghini, he said, &quot;No doubt our new products are revolutionary.&quot;

He said their cars have ground breaking technology and beautiful design. &quot;We are an everyday luxury vehicle with emphasis on comfort and style,&quot; he said.

Asked about the target customers for DB11 in India, he said it will be existing high luxury car owners.

&quot;Typically, it may be businessmen in their late 40s or early 50s with children in their late teens, who also enjoy the car.

&quot;There are also others in their early 20s and some in the late 60s who buy our cars for the absolute thrill of owning them,&quot; he said.

On projected sales in India, he said, &quot;It is a small market, but we view it as having great potential in future.&quot;

Majority of sales in India is from metros, he added.

(PTI)

A top company official said the growth in India has been stagnant, but with the launch of new products the company expects real growth

Iconic British luxury car brand Aston Martin is eyeing good growth in the Indian market and plans to launch a new product every nine months, a top company official said. Aston Martin has been selling cars under the brands Vantage, Rapide and Vanquish in India, as well as the recently launched DB11. "The market has been fairly stagnant due to harsher economic conditions. However, with the new products coming, we expect real growth in India," Aston Martin president, Middle East and North Africa, Neil Slade told PTI. The company recently launched its latest luxury brand DB11, successor to the DB9 launched in 2003. "The DB11 showcases a fresh and distinctive design language, pioneering aerodynamics, and is powered by a potent in-house designed 5.2 litre turbocharged V12 engine." "The Aston Martin DB11 is a fine balance of beauty and performance. We at Aston Martin are proud to showcase this powerhouse to our discerning clientele in India," he said. To a query on the sales target for the next two years, he declined to divulge any figures, but said that "with the new products we expect good growth". "We will be launching our new products every nine months from now in India," he said. The company has been selling between 3,500 - 4,000 units over the last few years. "We expect our stability (in sales) to continue," he said. "Our second Century plan is an exciting time for Aston Martin, starting with a complete line up to be released in the coming five years," he said. Asked about the growth of premium luxury car segment in India over the last two years, he said, "The market has been fairly stagnant due to harsher economic conditions." On import duty for cars not manufactured in India, he said it was punitive and had an impact on sales. "This is punitive. Of course, it impacts sales potential," he said. On the launch of DB11 in the market, which already has stiff competition with the presence of Ferrari and Lamborghini, he said, "No doubt our new products are revolutionary." He said their cars have ground breaking technology and beautiful design. "We are an everyday luxury vehicle with emphasis on comfort and style," he said. Asked about the target customers for DB11 in India, he said it will be existing high luxury car owners. "Typically, it may be businessmen in their late 40s or early 50s with children in their late teens, who also enjoy the car. "There are also others in their early 20s and some in the late 60s who buy our cars for the absolute thrill of owning them," he said. On projected sales in India, he said, "It is a small market, but we view it as having great potential in future." Majority of sales in India is from metros, he added. (PTI)

Aston Martin to launch new product every nine months in India

Announcing the biggest deal in the world this year, US telecom firm AT&amp;T on Saturday struck a deal worth $108.7 billion to buy media group, Time Warner.&nbsp;

The merger deal will create a powerhouse with control over a vast array of media and entertainment assets and the means to deliver them.

AT&amp;T valued Time Warner - with HBO, CNN and Warner Bros studios - at more than $85 billion and will be absorbing the media group&#39;s debt.&nbsp;

The company issued a statement saying, the tie-up will provide the telecom company &quot;the world&#39;s best premium content with the networks to deliver it to every screen, however customers want it&quot;.

&quot;This is a perfect match of two companies with complementary strengths who can bring a fresh approach to how the media and communications industry works for customers, content creators, distributors and advertisers,&quot; said AT&amp;T chairman and chief executive Randall Stephenson.

With consumers increasingly shifting to mobile technology, the deal positions AT&amp;T as a strong rival to Comcast, which owns NBCUniversal, and online rivals such as Netflix and Amazon.

&quot;Time Warner Chairman and CEO Jeff Bewkes and his senior management team can see where the entire legacy media world is headed: secular decline,&quot; he said in a blog post.

&quot;If Time Warner and its management team were confident in the future of the media sector, particularly the cable network industry, they would not be selling now,&quot; he added. &quot;The harsh reality is that the legacy cable network business has been over earning for decades with an unvirtuous circle of pain about to begin.&quot;

AT&amp;T, the second largest US wireless carrier and third largest cable TV provider in the US, has pursued an aggressive expansion. The firm paid almost $50 billion to buy satellite television provider DirectTV in 2015.

But the deal is likely to face tough scrutiny from antitrust regulators, and Republican presidential candidate Donald Trump has said already he would block it, if elected to power.

(WION with inputs from agencies) 
&nbsp;

Creating a media-tech behemoth, the tie-up gives AT&T control over a vast array of media and entertainment assets

Announcing the biggest deal in the world this year, US telecom firm AT&T on Saturday struck a deal worth $108.7 billion to buy media group, Time Warner. The merger deal will create a powerhouse with control over a vast array of media and entertainment assets and the means to deliver them. AT&T valued Time Warner - with HBO, CNN and Warner Bros studios - at more than $85 billion and will be absorbing the media group's debt. The company issued a statement saying, the tie-up will provide the telecom company "the world's best premium content with the networks to deliver it to every screen, however customers want it". "This is a perfect match of two companies with complementary strengths who can bring a fresh approach to how the media and communications industry works for customers, content creators, distributors and advertisers," said AT&T chairman and chief executive Randall Stephenson. With consumers increasingly shifting to mobile technology, the deal positions AT&T as a strong rival to Comcast, which owns NBCUniversal, and online rivals such as Netflix and Amazon. "Time Warner Chairman and CEO Jeff Bewkes and his senior management team can see where the entire legacy media world is headed: secular decline," he said in a blog post. "If Time Warner and its management team were confident in the future of the media sector, particularly the cable network industry, they would not be selling now," he added. "The harsh reality is that the legacy cable network business has been over earning for decades with an unvirtuous circle of pain about to begin." AT&T, the second largest US wireless carrier and third largest cable TV provider in the US, has pursued an aggressive expansion. The firm paid almost $50 billion to buy satellite television provider DirectTV in 2015. But the deal is likely to face tough scrutiny from antitrust regulators, and Republican presidential candidate Donald Trump has said already he would block it, if elected to power. (WION with inputs from agencies)

AT&T acquires Time Warner for $108.7 bn

The regulator of telecommunication sector in India on Friday recommended Indian ministry of communications and information technology &#39;s department of telecommunications (DoT) to impose a total penalty of Rs 3,050 crore on incumbent players &mdash;Bharti Airtel, Vodafone and Idea Cellular &mdash;for denying interconnection facility to newcomer Reliance Jio Infocomm.

While Bharti Airtel and Vodafone have been slapped with a fine of Rs 50 crore for 21 circles each (except in the northernmost Jammu and Kashmir) state, &nbsp;Idea faced the same amount of penalty for 19 circles each, Indian news agency PTI reported.&nbsp;

In its capacity as the licensor, the Telecom Regulatory Authority of India (TRAI) in a letter to &nbsp;(DoT), said that the regulator stopped short of cancelling licences, despite the violation of licence conditions by these companies, as it would cause massive inconvenience to the companies, according to Indian media.&nbsp;

&ldquo;However, the authority is mindful of the fact that revocation of the licence will entail significant consumer inconvenience and therefore in view of the larger public interest involved, the authority recommends a penal action of Rs 50 crore per LSA (circle)&hellip;,&rdquo; the statement said.&nbsp;

The recommendation comes in the wake of complaint by Reliance Jio, which launched its services on September 5, where it was alleged that the incumbent players were denying it sufficient number of interconnection ports leading to huge call failures.&nbsp;

Taking note of the complaint, TRAI said that denial of interconnection &#39;appears to be with ulterior motive to stifle competiton and is anti-cosumer&#39;.&nbsp;

The incumbents, however, have claimed they have provided sufficient Point of Interconnections &nbsp;(POIs) to Jio, according to several reports.&nbsp;

Reliance Jio has said its customers are facing 75 per cent call failures on Airtel, Vodafone and Idea cellular networks due to insufficient interconnection facility provided by the incumbent operators, PTI reported. As per the service quality norms, not more than five out of 1000 calls should fail at the point of interconnect. &nbsp;

(WION with inputs from PTI)&nbsp; 
&nbsp;

Reliance Jio had approached TRAI alleging that the players were denying it interconnection ports leading to huge network failures

The regulator of telecommunication sector in India on Friday recommended Indian ministry of communications and information technology 's department of telecommunications (DoT) to impose a total penalty of Rs 3,050 crore on incumbent players —Bharti Airtel, Vodafone and Idea Cellular —for denying interconnection facility to newcomer Reliance Jio Infocomm. While Bharti Airtel and Vodafone have been slapped with a fine of Rs 50 crore for 21 circles each (except in the northernmost Jammu and Kashmir) state, Idea faced the same amount of penalty for 19 circles each, Indian news agency PTI reported. In its capacity as the licensor, the Telecom Regulatory Authority of India (TRAI) in a letter to (DoT), said that the regulator stopped short of cancelling licences, despite the violation of licence conditions by these companies, as it would cause massive inconvenience to the companies, according to Indian media. “However, the authority is mindful of the fact that revocation of the licence will entail significant consumer inconvenience and therefore in view of the larger public interest involved, the authority recommends a penal action of Rs 50 crore per LSA (circle)…,” the statement said. The recommendation comes in the wake of complaint by Reliance Jio, which launched its services on September 5, where it was alleged that the incumbent players were denying it sufficient number of interconnection ports leading to huge call failures. Taking note of the complaint, TRAI said that denial of interconnection 'appears to be with ulterior motive to stifle competiton and is anti-cosumer'. The incumbents, however, have claimed they have provided sufficient Point of Interconnections (POIs) to Jio, according to several reports. Reliance Jio has said its customers are facing 75 per cent call failures on Airtel, Vodafone and Idea cellular networks due to insufficient interconnection facility provided by the incumbent operators, PTI reported. As per the service quality norms, not more than five out of 1000 calls should fail at the point of interconnect. (WION with inputs from PTI)

Reliance Jio connectivity row:  TRAI recommends Rs 3,050 cr fine on Airtel, Vodafone, Idea

Romania would no longer block the EU-Canada trade accord after Bucharest reached a deal with Ottawa, Romanian President Klaus Iohannis said on Friday.

&nbsp;

&quot;We have reached a deal with Canada, a reasonable agreement for both parties,&quot; Iohannis told journalists at an EU summit in Brussels, AFP reported.

&nbsp;

&quot;Romania has no longer any objections to the commercial trade accord with Canada.&quot;

&nbsp;

Canada has agreed to waive all visa requirements for Romanian citizens as of December 1, 2017.

&nbsp;

&quot;However, if the number of illegal migrants passes a certain threshold, Canada reserves the right to temporarily introduce visas,&quot; Iohannis added.

&nbsp;

Visa waivers were a key condition for Romania and Bulgaria&#39;s support of the Comprehensive Economic and Trade Agreement (CETA) pact between the EU and Canada.

&nbsp;

The deal which has been in talks for more than seven years now remains in limbo as the parliament of the Belgian region of Wallonia continues to block it. The agreement is planned to be signed on October 27.

&nbsp;

EU leaders on Friday were anxiously awaiting a breakthrough after all-night negotiations between EU officials and Wallonia&#39;s head of government, AFP said.

&nbsp;

The trade accord can only come into effect if all EU member states unanimously agree to the deal.

&nbsp;

(WION with inputs from AFP)

Canada has agreed to waive all visa requirements for Romanian citizens as of December 1, 2017

Romania would no longer block the EU-Canada trade accord after Bucharest reached a deal with Ottawa, Romanian President Klaus Iohannis said on Friday. "We have reached a deal with Canada, a reasonable agreement for both parties," Iohannis told journalists at an EU summit in Brussels, AFP reported. "Romania has no longer any objections to the commercial trade accord with Canada." Canada has agreed to waive all visa requirements for Romanian citizens as of December 1, 2017. "However, if the number of illegal migrants passes a certain threshold, Canada reserves the right to temporarily introduce visas," Iohannis added. Visa waivers were a key condition for Romania and Bulgaria's support of the Comprehensive Economic and Trade Agreement (CETA) pact between the EU and Canada. The deal which has been in talks for more than seven years now remains in limbo as the parliament of the Belgian region of Wallonia continues to block it. The agreement is planned to be signed on October 27. EU leaders on Friday were anxiously awaiting a breakthrough after all-night negotiations between EU officials and Wallonia's head of government, AFP said. The trade accord can only come into effect if all EU member states unanimously agree to the deal. (WION with inputs from AFP)

Romania agrees to EU-Canada trade accord after visa deal

Nestle became the latest company to be hit by the global slowdown affecting food manufacturers after posting its weakest underlying sales growth in more than a decade.

The Swiss food giant on Thursday cut its outlook for the year, saying it now expected its full-year sales to rise by 3.5 per cent after posting an increase of 3.3 per cent for the first nine months. It previously said it expected full-year organic sales to rise by around 4.2 per cent.&nbsp;Its shares were indicated 1.7 per cent lower in pre-market activity.

Like other food manufacturers, the maker of KitKat chocolate bars and Nescafe soluble coffee has been struggling with price deflation for its products in Europe amid fierce competition among supermarkets and weak commodity prices.

Tough conditions have also persisted in key markets like China and Brazil.&nbsp;Rivals like Unilever have increased prices to compensate for currency weaknesses in some markets like Britain.&nbsp;Nestle said it continued to prioritise volume increases in what it described as a soft environment, but saw some improvement in pricing.

&quot;In an environment marked by deflation and low raw material prices, we continued to privilege volume growth,&quot; Chief Executive Paul Bulcke said in a statement. &quot;Pricing remained soft but increasing.&quot;

Nestle&#39;s 9-month sales rose to 65.51 billion Swiss francs ($66.19 billion) from 64.86 billion Swiss francs a year earlier, Vevey-based Nestle said. The figure lagged the average analyst estimate of 66.00 billion francs in a Reuters poll.

Analysts polled by Reuters had on average expected organic growth,&nbsp;which strips out the impact of acquisitions and currency swings,&nbsp;of 3.7 per cent.

&quot;Europe looks like it was under pressure during the quarter while China weakness is weighing on Asia despite the recovery in India,&quot; said analyst Jon Cox at Kepler Cheuvreux.&nbsp;&quot;The cut in guidance is disappointing although all of the staples companies looked like they have had a tough quarter &ndash; they need to find relevance with consumers,&quot; he added.

Unilever said its underlying sales increased 4.2 per cent for the first nine months of 2016, supported by a 2.7 per cent rise in pricing, when it published third-quarter results last week, while French rival Danone this week posted a 2.1 increase in sales during its third quarter.

($1 = 0.9897 Swiss francs)

(Reuters)

The food and bottled water giant expected full-year organic sales to rise by 4.5%, but revised it now to 3.5%

Nestle became the latest company to be hit by the global slowdown affecting food manufacturers after posting its weakest underlying sales growth in more than a decade. The Swiss food giant on Thursday cut its outlook for the year, saying it now expected its full-year sales to rise by 3.5 per cent after posting an increase of 3.3 per cent for the first nine months. It previously said it expected full-year organic sales to rise by around 4.2 per cent. Its shares were indicated 1.7 per cent lower in pre-market activity. Like other food manufacturers, the maker of KitKat chocolate bars and Nescafe soluble coffee has been struggling with price deflation for its products in Europe amid fierce competition among supermarkets and weak commodity prices. Tough conditions have also persisted in key markets like China and Brazil. Rivals like Unilever have increased prices to compensate for currency weaknesses in some markets like Britain. Nestle said it continued to prioritise volume increases in what it described as a soft environment, but saw some improvement in pricing. "In an environment marked by deflation and low raw material prices, we continued to privilege volume growth," Chief Executive Paul Bulcke said in a statement. "Pricing remained soft but increasing." Nestle's 9-month sales rose to 65.51 billion Swiss francs ($66.19 billion) from 64.86 billion Swiss francs a year earlier, Vevey-based Nestle said. The figure lagged the average analyst estimate of 66.00 billion francs in a Reuters poll. Analysts polled by Reuters had on average expected organic growth, which strips out the impact of acquisitions and currency swings, of 3.7 per cent. "Europe looks like it was under pressure during the quarter while China weakness is weighing on Asia despite the recovery in India," said analyst Jon Cox at Kepler Cheuvreux. "The cut in guidance is disappointing although all of the staples companies looked like they have had a tough quarter – they need to find relevance with consumers," he added. Unilever said its underlying sales increased 4.2 per cent for the first nine months of 2016, supported by a 2.7 per cent rise in pricing, when it published third-quarter results last week, while French rival Danone this week posted a 2.1 increase in sales during its third quarter. ($1 = 0.9897 Swiss francs) (Reuters)

Nestle posts weakest underlying sales growth in 10 years

The Indian banking industry has been hit by a major cyber security breach with almost 3.2 million debit cards reportedly compromised. The banks affected&nbsp;by the breach include bigwigs like HDFC, ICICI, Yes Bank, Axis and SBI.

The&nbsp;banks have been sending messages to their customers asking them to change their four-digit security PIN (personal information number) codes.

Even payment gateway companies Visa, MasterCard,&nbsp;and RuPay have raised&nbsp;the issue with&nbsp;the banks concerned. (A payment gateway company authorises&nbsp;payments made by a customer to a merchant like an e-tailer or a brick and mortar store.)&nbsp;&nbsp;

According to a report by the Economic Times, the security breach took place at the Hitachi Payment Services end&nbsp;which&nbsp;provides payment services such as ATMs and&nbsp;point-of-sale terminals.

Loney Antony, MD of Hitachi Payment Services,&nbsp;told Zee Business that according to an interim report there has been no breach. He added that the final report will be out in the first week of November. And that the banks need not panic nor re-issue cards -- just&nbsp;changing the PIN on the debit card of an affected bank&nbsp;is enough.

Security breaches of this sort usually happen when a card gets cloned or skimmed&nbsp;-- the details of the card are copied --&nbsp;during a transaction at a point-of-sale terminal or an ATM.

Breaches like this tend to go viral. If a&nbsp;card-holder of a non-affected bank swipes his card at an&nbsp;ATM of an&nbsp;affected bank, then the non-affected bank also becomes a target.

A breach like this&nbsp;is difficult to contain.

The National Payment Council has directed the Bengaluru-based payments and security specialist company SISA to investigate and conduct a forensic audit.

Customers however need not worry. According to an earlier Reserve Bank of India circular on debit cards:&nbsp;&ldquo;In case of any monetary loss on account of breach of security or failure of the security, the bank is liable to bear the loss.&rdquo;

Thus, if money is wrongful debited from a customer&rsquo;s account, he or she need only&nbsp;inform his or her bank and the bank will be liable to reimburse them.

Rajnish Kumar, managing director of State Bank of India,&nbsp;told Zee Business&nbsp;that they expect the breach to cause them a loss of Rs 10 to 12 lakh --&nbsp;SBI has a total of 20 crore debit card holders -- but their customers will be protected.

(WION)

The affected banks have been sending messages to their customers asking them to change their four-digit security PIN codes

The Indian banking industry has been hit by a major cyber security breach with almost 3.2 million debit cards reportedly compromised. The banks affected by the breach include bigwigs like HDFC, ICICI, Yes Bank, Axis and SBI. The banks have been sending messages to their customers asking them to change their four-digit security PIN (personal information number) codes. Even payment gateway companies Visa, MasterCard, and RuPay have raised the issue with the banks concerned. (A payment gateway company authorises payments made by a customer to a merchant like an e-tailer or a brick and mortar store.) According to a report by the Economic Times, the security breach took place at the Hitachi Payment Services end which provides payment services such as ATMs and point-of-sale terminals. Loney Antony, MD of Hitachi Payment Services, told Zee Business that according to an interim report there has been no breach. He added that the final report will be out in the first week of November. And that the banks need not panic nor re-issue cards -- just changing the PIN on the debit card of an affected bank is enough. Security breaches of this sort usually happen when a card gets cloned or skimmed -- the details of the card are copied -- during a transaction at a point-of-sale terminal or an ATM. Breaches like this tend to go viral. If a card-holder of a non-affected bank swipes his card at an ATM of an affected bank, then the non-affected bank also becomes a target. A breach like this is difficult to contain. The National Payment Council has directed the Bengaluru-based payments and security specialist company SISA to investigate and conduct a forensic audit. Customers however need not worry. According to an earlier Reserve Bank of India circular on debit cards: “In case of any monetary loss on account of breach of security or failure of the security, the bank is liable to bear the loss.” Thus, if money is wrongful debited from a customer’s account, he or she need only inform his or her bank and the bank will be liable to reimburse them. Rajnish Kumar, managing director of State Bank of India, told Zee Business that they expect the breach to cause them a loss of Rs 10 to 12 lakh -- SBI has a total of 20 crore debit card holders -- but their customers will be protected. (WION)

Indian banks hit by massive cyber security breach, 3.2 million debit cards reportedly compromised

Volkswagen labour leaders said on Wednesday they had not yet struck a deal with management on cost cuts at the core autos division, denying an earlier report by Manager Magazin.

&quot;Constructive talks are still ongoing and will be continued tomorrow. The fact is: the pact may still fail. Especially if the company does not make concrete assurances for certain products, such as battery manufacturing,&quot; Gunnar Kilian, a labour leader at VW&#39;s group works council, said in an e-mailed statement.

Monthly Manager Magazin had earlier said on its website that VW had agreed with labour leaders on cutting costs at the VW brand by between 5 and 6 billion Euros ($5.5-6.6 billion) by 2025 at the latest.

Europe&#39;s largest automaker will take advantage of natural attrition to cut between 10,000 and 20,000 staff over the next decade, the magazine had said, citing unnamed sources familiar with the talks.

VW didn&#39;t return calls seeking comment.

Talks between the two sides on a so-called future pact including cost cuts and a strategy for the brand&#39;s German plants are still ongoing, the magazine said.

VW&#39;s brand management has yet to agree with labour leaders on fixed targets and quotas for products and investments in German factories as well as prospects for battery production in Germany, works council chief Bernd Osterloh said in an interview with Braunschweiger Zeitung published earlier on Wednesday.

VW, under pressure to make cuts at high-cost operations in Germany to fund a post-diesel gate strategic shift to electric cars and autonomous driving, has been in talks with labour on the future pact since June.

A cost-cutting deal at VW&#39;s largest division by sales and revenue is seen by analysts as key to the stock&#39;s revival. VW expects the unit&#39;s operating margin to climb to 4 per cent by 2020 from about 2 per cent, less than an original target of 6 per cent, the magazine said.

(Reuters)

Manager Magazin had earlier said on its website that VW had agreed with labour leaders on cutting costs at the VW brand by 5-6 bn Euros

Volkswagen labour leaders said on Wednesday they had not yet struck a deal with management on cost cuts at the core autos division, denying an earlier report by Manager Magazin. "Constructive talks are still ongoing and will be continued tomorrow. The fact is: the pact may still fail. Especially if the company does not make concrete assurances for certain products, such as battery manufacturing," Gunnar Kilian, a labour leader at VW's group works council, said in an e-mailed statement. Monthly Manager Magazin had earlier said on its website that VW had agreed with labour leaders on cutting costs at the VW brand by between 5 and 6 billion Euros ($5.5-6.6 billion) by 2025 at the latest. Europe's largest automaker will take advantage of natural attrition to cut between 10,000 and 20,000 staff over the next decade, the magazine had said, citing unnamed sources familiar with the talks. VW didn't return calls seeking comment. Talks between the two sides on a so-called future pact including cost cuts and a strategy for the brand's German plants are still ongoing, the magazine said. VW's brand management has yet to agree with labour leaders on fixed targets and quotas for products and investments in German factories as well as prospects for battery production in Germany, works council chief Bernd Osterloh said in an interview with Braunschweiger Zeitung published earlier on Wednesday. VW, under pressure to make cuts at high-cost operations in Germany to fund a post-diesel gate strategic shift to electric cars and autonomous driving, has been in talks with labour on the future pact since June. A cost-cutting deal at VW's largest division by sales and revenue is seen by analysts as key to the stock's revival. VW expects the unit's operating margin to climb to 4 per cent by 2020 from about 2 per cent, less than an original target of 6 per cent, the magazine said. (Reuters)

VW works council denies it has agreed cost cut deal

It will now be possible for the Indian consumers to book a ride with taxi aggregators, Ola and Uber, directly from the Google Search, Indian news agency PTI reported today.&nbsp;

&nbsp;

Tech giant Google had introduced a feature on Google Maps, earlier this year, that offers dedicated tab with information for cab services to the Indian users, in addition to the existing driving, public transport, or walking options. &nbsp;

&nbsp;

&quot;Now with this integration, commuters across the country can ask Google for directions and book ride services directly from Google Search,&quot; Google said in a statement, PTI reported.&nbsp;

&nbsp;

The users will get to see a tab for ride services, both Uber and Ola, with fare estimates and pick-up times if a car is available near their location, it added.

&nbsp;

The Google Search will not only help the user to install the applications if he/ she doesn&#39;t have it on the device but the browser will also direct the user to select a service and automatically open the app to book the ride when the user searches for the options to book the cab.&nbsp;

&nbsp;

&quot;Choosing the best transit option can be a task at times. Our aim is to help users simplify their everyday travel. With this, users will be able to order, explore and make quick comparisons about the best estimated taxi fare directly from Google Search results on their mobile,&quot; Google program manager Sanket Gupta has been quoted as saying.&nbsp;

&nbsp;

Ola, in a statement, said the move helps facilitate Ola&#39;s focus on making cab bookings more accessible and seamless for customers everywhere.&nbsp;

&nbsp;

(WION with inputs from PTI)&nbsp;

The users will get to see a tab for ride services, both Uber and Ola, with fare estimates and pick-up times if a car is available

It will now be possible for the Indian consumers to book a ride with taxi aggregators, Ola and Uber, directly from the Google Search, Indian news agency PTI reported today. Tech giant Google had introduced a feature on Google Maps, earlier this year, that offers dedicated tab with information for cab services to the Indian users, in addition to the existing driving, public transport, or walking options. "Now with this integration, commuters across the country can ask Google for directions and book ride services directly from Google Search," Google said in a statement, PTI reported. The users will get to see a tab for ride services, both Uber and Ola, with fare estimates and pick-up times if a car is available near their location, it added. The Google Search will not only help the user to install the applications if he/ she doesn't have it on the device but the browser will also direct the user to select a service and automatically open the app to book the ride when the user searches for the options to book the cab. "Choosing the best transit option can be a task at times. Our aim is to help users simplify their everyday travel. With this, users will be able to order, explore and make quick comparisons about the best estimated taxi fare directly from Google Search results on their mobile," Google program manager Sanket Gupta has been quoted as saying. Ola, in a statement, said the move helps facilitate Ola's focus on making cab bookings more accessible and seamless for customers everywhere. (WION with inputs from PTI)

Indian consumers can now book Ola, Uber through Google Search

Indian automobile manufacturing company &nbsp;Ashok Leyland Ltd unveiled its electric buses on Monday, as part of its Circuit series.&nbsp;

The buses are indigenously made and produced and&nbsp;in line with the company&#39;s idea for future of mass mobility, Asok Layland said in a statement.&nbsp;

T. Venkataraman, senior vice-president of buses at the firm said, &ldquo;We believe electric vehicles will happen sooner than later.&quot;&nbsp;

The bus is specially designed for Indian roads and is emission free. It is fit in with a fire detection and suppression system, the Livemint reported.&nbsp;

According to Venkataraman, the buses are built for a mass-market use and&nbsp;requires low maintenance and minimum operation.&nbsp;

(WION) 
&nbsp;

The buses are built for a mass-market use and?require low maintenance and minimum operation, the company said

Indian automobile manufacturing company Ashok Leyland Ltd unveiled its electric buses on Monday, as part of its Circuit series. The buses are indigenously made and produced and in line with the company's idea for future of mass mobility, Asok Layland said in a statement. T. Venkataraman, senior vice-president of buses at the firm said, “We believe electric vehicles will happen sooner than later." The bus is specially designed for Indian roads and is emission free. It is fit in with a fire detection and suppression system, the Livemint reported. According to Venkataraman, the buses are built for a mass-market use and requires low maintenance and minimum operation. (WION)

Indian automaker introduces electric buses

Netflix&nbsp;Inc added over 50 per cent more subscribers than expected in the third quarter as original shows such as &quot;Stranger Things&quot; drew new international viewers and kept U.S. customers despite a price hike, sending its shares soaring 20 per cent in late trade.

The company&#39;s performance represented a turnaround from the previous quarter of disappointing subscription growth.&nbsp;Netflix, which has spent heavily to expand outside its home market, also said that it was on track to start harvesting &quot;material global profits&quot; next year, even as it raised spending on original programming.

Shares of&nbsp;Netflix&nbsp;rose to $119.82 in extended trade from a close of $99.80.

Netflix&nbsp;added about 3.20 million subscribers internationally in the third quarter, higher than the 2.01 million average analyst estimate.

In the United States,&nbsp;Netflix&nbsp;added 370,000 subscriptions, compared with analysts&#39; estimate of 309,000, according to research firm FactSet StreetAccount.

&quot;Investors appear laser focused on subscriber growth, and so long as&nbsp;Netflix&nbsp;delivers on that metric, investors will bid its shares up,&quot; said Wedbush Securities analyst Michael Pachter. However, Pachter said he thought the continuing cost of developing new shows would undermine plans to deliver material profits in 2017.

Netflix&nbsp;has expanded into more than 130 markets worldwide, including most major countries, except China. It said on Monday it was dropping plans to launch a service in China in the near term, opting instead to license its shows for &quot;modest&quot; revenue.

The company said it still hopes to launch service in China &quot;eventually.&quot;

In the meantime,&nbsp;Netflix&nbsp;plans to keep pouring money into building its stable of original and licensed TV shows and movies. Content spending will rise to $6 billion next year, a $1 billion increase from 2016, the company said.&quot;We will keep investing in growing the content spend, even domestically, for quite a long time,&quot; Chief Executive Reed Hastings said on webcast.

Netflix&nbsp;has been facing a slowdown in subscription growth in the United States as the market matures and a planned U.S. price hike raised concerns it would not hit its targets. It also faces competition from the likes of Hulu and Amazon.com Inc.

But the company, whose other popular original shows include &quot;Orange is the New Black&quot; and &quot;House of Cards&quot;, said it expects to add 1.45 million subscribers in the United States in the current quarter.

Analysts on average were expecting 1.27 million additions, according to research firm FactSet StreetAccount.

&quot;Netflix&nbsp;has successfully navigated the challenges of a price increase,&quot; retail research group Conlumino said in a note, adding that it had been &quot;somewhat less successful&quot; in maintaining subscriber growth.

In its international markets, it expects subscriber additions of 3.75 million, compared with the average analyst estimate of 3.32 million.

Third-quarter revenue rose 31.7 per cent to $2.29 billion.

Netflix&#39;s shares have surged in the past few years, driven by rapid growth as the company redefined television and fueled &quot;binge watching&quot;.

The stock, however, was down 12.7 per cent this year as investors fretted about slowing growth in its domestic market and increasing competition.

Despite a price hike in subscriptions, the online streaming giant saw its shares increase by 20 per cent in late trade

Netflix Inc added over 50 per cent more subscribers than expected in the third quarter as original shows such as "Stranger Things" drew new international viewers and kept U.S. customers despite a price hike, sending its shares soaring 20 per cent in late trade. The company's performance represented a turnaround from the previous quarter of disappointing subscription growth. Netflix, which has spent heavily to expand outside its home market, also said that it was on track to start harvesting "material global profits" next year, even as it raised spending on original programming. Shares of Netflix rose to $119.82 in extended trade from a close of $99.80. Netflix added about 3.20 million subscribers internationally in the third quarter, higher than the 2.01 million average analyst estimate. In the United States, Netflix added 370,000 subscriptions, compared with analysts' estimate of 309,000, according to research firm FactSet StreetAccount. "Investors appear laser focused on subscriber growth, and so long as Netflix delivers on that metric, investors will bid its shares up," said Wedbush Securities analyst Michael Pachter. However, Pachter said he thought the continuing cost of developing new shows would undermine plans to deliver material profits in 2017. Netflix has expanded into more than 130 markets worldwide, including most major countries, except China. It said on Monday it was dropping plans to launch a service in China in the near term, opting instead to license its shows for "modest" revenue. The company said it still hopes to launch service in China "eventually." In the meantime, Netflix plans to keep pouring money into building its stable of original and licensed TV shows and movies. Content spending will rise to $6 billion next year, a $1 billion increase from 2016, the company said."We will keep investing in growing the content spend, even domestically, for quite a long time," Chief Executive Reed Hastings said on webcast. Netflix has been facing a slowdown in subscription growth in the United States as the market matures and a planned U.S. price hike raised concerns it would not hit its targets. It also faces competition from the likes of Hulu and Amazon.com Inc. But the company, whose other popular original shows include "Orange is the New Black" and "House of Cards", said it expects to add 1.45 million subscribers in the United States in the current quarter. Analysts on average were expecting 1.27 million additions, according to research firm FactSet StreetAccount. "Netflix has successfully navigated the challenges of a price increase," retail research group Conlumino said in a note, adding that it had been "somewhat less successful" in maintaining subscriber growth. In its international markets, it expects subscriber additions of 3.75 million, compared with the average analyst estimate of 3.32 million. Third-quarter revenue rose 31.7 per cent to $2.29 billion. Netflix's shares have surged in the past few years, driven by rapid growth as the company redefined television and fueled "binge watching". The stock, however, was down 12.7 per cent this year as investors fretted about slowing growth in its domestic market and increasing competition.

Netflix shares soar after 50 per cent surge in subscribers

Vehicle manufacturers will now have to give details about the emission and noise levels of vehicles they produce.&nbsp;

Starting April 1, 2017, manufacturers of all kinds of motor vehicles including, e-rickshaws and e-carts, will have to give detailed declaration about the emission levels of the vehicle they have manufactured.

The ministry of road transport &amp; highways has notified that it has amended Form 22 under the Central Motor Vehicles Act, 1989, through which manufacturers provide the Initial Certificate of Compliance with Pollution Standards, Safety Standards of Components Quality and Road, worthiness certificate for all vehicles.

Earlier, Form 22 only certified that the vehicle in question complied with the provisions of the Motor Vehicles Act and rules there under, including the relevant emission norms, Bharat Stage I/II/III etc.

From April 1, 2017 however, the vehicle manufacturers will have to provide emission details for each vehicle in the revised Form 22. Manufacturers in the form will have to provide details on the brand, chassis number, engine number (motor number, in case of battery operated vehicles) and emission norms, Bharat Stage - IV/VI/Bharat (Trem) Stage-III/III etc of the vehicle and specify the levels of each pollutant like carbon monoxide, hydro carbon, non-methane HC, NOx, HC + NOx, PM etc for petrol and diesel vehicles and also sound level for horn and pass by noise values.

The amended rules will apply to all vehicles run on petrol, CNG, LPG, electric, diesel and hybrid, including agricultural and construction vehicles, as well as e-rickshaws and e-carts. Form 22 will be issued with the signature of the manufacturer.

(This article first appeared in Zee Business)

Starting April 2017 manufacturers of all kinds of motor vehicles will have to give detailed declaration about the emission and noise levels

Vehicle manufacturers will now have to give details about the emission and noise levels of vehicles they produce. Starting April 1, 2017, manufacturers of all kinds of motor vehicles including, e-rickshaws and e-carts, will have to give detailed declaration about the emission levels of the vehicle they have manufactured. The ministry of road transport & highways has notified that it has amended Form 22 under the Central Motor Vehicles Act, 1989, through which manufacturers provide the Initial Certificate of Compliance with Pollution Standards, Safety Standards of Components Quality and Road, worthiness certificate for all vehicles. Earlier, Form 22 only certified that the vehicle in question complied with the provisions of the Motor Vehicles Act and rules there under, including the relevant emission norms, Bharat Stage I/II/III etc. From April 1, 2017 however, the vehicle manufacturers will have to provide emission details for each vehicle in the revised Form 22. Manufacturers in the form will have to provide details on the brand, chassis number, engine number (motor number, in case of battery operated vehicles) and emission norms, Bharat Stage - IV/VI/Bharat (Trem) Stage-III/III etc of the vehicle and specify the levels of each pollutant like carbon monoxide, hydro carbon, non-methane HC, NOx, HC + NOx, PM etc for petrol and diesel vehicles and also sound level for horn and pass by noise values. The amended rules will apply to all vehicles run on petrol, CNG, LPG, electric, diesel and hybrid, including agricultural and construction vehicles, as well as e-rickshaws and e-carts. Form 22 will be issued with the signature of the manufacturer. (This article first appeared in Zee Business)

New rules for reporting emission levels for Indian automobile manufacturers

On a month-on-month basis, non-oil domestic exports increased 2.4 per cent.

Singapore’s exports in September fell lesser than estimated after a decline in shipments to China moderated and sales to Europe rebounded even as the outlook for the trade-dependent economy remained grim on sluggish global demand. Non-oil domestic exports last month slipped to 4.8 per cent from a year earlier, trade agency International Enterprise Singapore (IE Singapore) said in a statement on Monday, Reuters reported. The median forecast in a Reuters poll showed a six per cent contraction. In August, overseas sales stalled with shipments to the US picking up and exports to China falling less than the previous month. On a month-on-month basis, non-oil domestic exports increased 2.4 per cent. In September, IE Singapore said, beating a forecast 1.5 percent expansion in the survey. (WION with inputs from Reuters)

Singapore: September exports fall 4.8 per cent

Tech&nbsp;giant Samsung said today that&nbsp;that its system chips business has started mass producing semiconductors using 10-nanometre technology.

&nbsp;

It added that it is the first company in the industry to do so, Reuters reported.&nbsp;

&nbsp;

South Korea&#39;s Electronic Times reported earlier this month that Samsung will be the only contract manufacturer of Qualcomm Inc&rsquo;s high-end Snapdragon 830 chips using 10-nanometre production technology and these processors will be used in half of Samsung&#39;s next Galaxy S smartphones expected to launch in early 2017.

&nbsp;

Samsung said in a statement that a product launching early next year will use chips made with its 10-nanometre production technology without specifying the device.

<meta charset="utf-8" />

 
(WION with inputs from Reuters)

Samsung said in a statement that a product launching early next year will use chips made with its 10-nanometre production technology

Tech giant Samsung said today that that its system chips business has started mass producing semiconductors using 10-nanometre technology. It added that it is the first company in the industry to do so, Reuters reported. South Korea's Electronic Times reported earlier this month that Samsung will be the only contract manufacturer of Qualcomm Inc’s high-end Snapdragon 830 chips using 10-nanometre production technology and these processors will be used in half of Samsung's next Galaxy S smartphones expected to launch in early 2017. Samsung said in a statement that a product launching early next year will use chips made with its 10-nanometre production technology without specifying the device. (WION with inputs from Reuters)

Samsung starts mass production of 10-nanometre chips

Germany, which has been conducting an investigation into electric carmaker Tesla, has asked the firm to stop using &quot;autopilot&quot; term in its advertisements, saying it leads to false customer expectations.&nbsp;

Transport regulator KBA has written to the company, telling it: &quot;In order to prevent misunderstandings and false expectations from clients, we are asking that the misleading term &#39;Autopilot&#39; no longer be used in advertisements for the system.&quot;

Last week, Tesla had said the company did not intend to mislead its customers and have always been clear that the &quot;Autopilot&quot; function is a driver&#39;s assistance system that requires the driver to pay attention at all times.&nbsp;

The system allows the vehicle to automatically change lanes, manage speed and brake to avoid a collision. The system may be overridden by the driver.

The system had come under scrutiny following two fatal crashes, one in northern China in January and another in the US state of Florida in May.

In September, a Tesla electric car crashed into a tourist bus on a motorway in northern Germany, lightly injuring the driver who said he had activated the vehicle&#39;s autopilot system.&nbsp;

(WION with inputs from agencies) 
&nbsp;

German transport regulator asked the carmaker to drop the term to prevent misunderstandings among customers

Germany, which has been conducting an investigation into electric carmaker Tesla, has asked the firm to stop using "autopilot" term in its advertisements, saying it leads to false customer expectations. Transport regulator KBA has written to the company, telling it: "In order to prevent misunderstandings and false expectations from clients, we are asking that the misleading term 'Autopilot' no longer be used in advertisements for the system." Last week, Tesla had said the company did not intend to mislead its customers and have always been clear that the "Autopilot" function is a driver's assistance system that requires the driver to pay attention at all times. The system allows the vehicle to automatically change lanes, manage speed and brake to avoid a collision. The system may be overridden by the driver. The system had come under scrutiny following two fatal crashes, one in northern China in January and another in the US state of Florida in May. In September, a Tesla electric car crashed into a tourist bus on a motorway in northern Germany, lightly injuring the driver who said he had activated the vehicle's autopilot system. (WION with inputs from agencies)

Germany asks Tesla to stop ads with 'misleading' Autopilot term

After the US airlines barred all Samsung Note 7s from travel, Australian and New Zealand airlines took the same safety measures citing its &quot;potential fire risk&quot;.

The ban, effective from Sunday, will be applicable to all devices being carried onto the aircraft, in carry-on baggage as well as check-in luggage. &nbsp;

&quot;(The ban) is due to concerns regarding potential fire risk from the device&#39;s battery after a number of incidents worldwide and follows a ban put in place by regulators overseas,&quot; Qantas and its discount carrier Jetstar said in a statement late Saturday.

Virgin and Air New Zealand &quot;strongly advised&quot; passengers not to bring the Note 7 phone to airports.

&quot;They cannot be accepted for travel and there is no storage facility available for them at our check-in areas,&quot; Air New Zealand added.

The world&#39;s largest smartphone makers, Samsung was forced to halt production of its latest flagship Note 7 device following reports of exploding batteries and fires worldwide.&nbsp;

The crisis is set to cost the South Korean electronics giant billions in lost profits, and is a blow to a firm that prides itself on the quality production of cutting-edge technology.

(WION with inputs from AFP) 
&nbsp;

Following incidents of exploding batteries, Australian & New Zealand airlines too banned Note 7 devices from being carried on its flights

After the US airlines barred all Samsung Note 7s from travel, Australian and New Zealand airlines took the same safety measures citing its "potential fire risk". The ban, effective from Sunday, will be applicable to all devices being carried onto the aircraft, in carry-on baggage as well as check-in luggage. "(The ban) is due to concerns regarding potential fire risk from the device's battery after a number of incidents worldwide and follows a ban put in place by regulators overseas," Qantas and its discount carrier Jetstar said in a statement late Saturday. Virgin and Air New Zealand "strongly advised" passengers not to bring the Note 7 phone to airports. "They cannot be accepted for travel and there is no storage facility available for them at our check-in areas," Air New Zealand added. The world's largest smartphone makers, Samsung was forced to halt production of its latest flagship Note 7 device following reports of exploding batteries and fires worldwide. The crisis is set to cost the South Korean electronics giant billions in lost profits, and is a blow to a firm that prides itself on the quality production of cutting-edge technology. (WION with inputs from AFP)

After US, Australian and New Zealand airlines ban Samsung Note 7 devices